A portable ice rescue craft includes a plurality of locking raft sections that are foldable for storage and transport. A drive unit includes a drive wheel driven by an electric motor via a drive belt. The drive wheel may include a plurality of spikes configured to engage ice and a plurality of paddles that are centripetally urgeable outward to pull the rescue craft through water. A forward raft section may include a pair of outboard pontoons to provide stability and minimize lateral rocking. An aft raft section includes at least one rudder. A pair of rudders may be mounted to a plate on a pivoting, biased system. The rudders automatically fold upwardly when the ice rescue craft is on ice or land. The rudders automatically activate downwardly when the ice rescue craft is in water.